With the trade in Egyptian Treasury bills (T-bills) gaining ground, the witnessed drop in T-bill yields at auctions is an indication of the increasing foreign investor participation and is providing support to the USD/EGP trade with a better tone, according to Bank of America Merrill Lynch’s February insight report. The report cites the unofficial announcement …

The Merill Lynch institution, affiliated to Bank of America, one of the largest investment banks in the world, has advised international investors and financial institutions to invest in Egyptian treasury bills, with a purchase recommendation to benefit from the attractiveness of the Egyptian market after the measures taken by the Central Bank of Egypt (CBE) …